According to a recent article in at CityFeet.com, written by Brian K. Miller of GlobeSt.com, the Leavitt Building in Bellevue was purchased by a joint venture between Mark Weed of Egis Real Estate Services and Michael Barnes for $15.9 million.
The Leavitt Building was a part of the old Bellevue City Hall Property that auto magnate Michael O'Brien purchased from the City for $24.7 million. He had previously demolished the City Hall Building and adjoining Police Station (formerly the Bellevue Public Library for those who weren't around back then) to make way for the new Lexus dealership building and parking lots.
The grapevine says that the new construction had come to a virtual standstill because of the shortage of concrete available because of the recent union strike. An agreement was worked out earlier in the week and we're hoping that all stalled projects get back on track quickly.